03-22-10 Council Agenda & Packet

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surveys and investigations and to thoroughly study the Airport Economic Development Area within the City; WHEREAS. pursuant to the Act, the Department has conducted surveys and investigations and has thoroughly studied the Airport Economic Development Area and the Development Plan. and WHEREAS, upon such surveys, investigations and studies having been made, the Commission finds that the Plan Amendment cannot be achieved by regulatory processes or by the ordinary operations of private enterprise without resort to the powers allowed under the Act and that the public health and welfare will be benefited by the accomplishment of the Plan Amendment which shall include the acquisition of the properties identified in Exhibit A; and WHEREAS, the Plan Amendment conforms to other development and redevelopment plans for the City; and WHEREAS, upon such surveys, investigations and studies having been made. the Commission finds that the legal description defining the Area has become unmanageable and should be restated and confirmed. s:: 4 I . The Commission hereby determines that to accomplish the redevelopment ofthe Area, it is necessary to acquire additional lard within the Area, as shown on Exhibit A attached hereto and incorporated herein. ?. The Commission hereby determines that the public health and welfare will be benefited by the accomplishment of the Plan Amendment, 3. The Commission hereby determines that the accomplishment of the Plan Amendment will be of public utility and benefit as measured by: a) the attraction or retention of permanent jobs; b) an increase in the property base; C) unproved diversity of the economic base, d) other similar public benefits. 4. The Commission hereby determines that the estimated cost of acquisition and redevelopment of the property being added to the acquisition list is $151400,000.00, The Commission hereby delen-nipes that the Plan Amendment conforms to other